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YORK TIMBER HOLDINGS LIMITED - Trading statement

Release Date: 24/02/2016 08:05
Code(s): YRK     PDF:  
Wrap Text
Trading statement

York Timber Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1916/004890/06)
Share code: YRK
ISIN: ZAE000133450
(“York” or the “Company”)

TRADING STATEMENT

York is in the process of finalising its interim results for the six months ended 31 December 2015
for release prior to 31 March 2016.

In terms of paragraph 3.4(b) of the Listings Requirements of the JSE Limited, companies are
required to publish a trading statement as soon as they are satisfied that a reasonable degree of
certainty exists that the financial results for the period to be reported upon next will differ by at
least 20% from those for the previous corresponding period.

Core earnings per share (based on headline earnings per share (“HEPS”) attributable to ordinary
shareholders less fair value adjustment on biological assets net of tax) is likely to be between
20% and 25% higher than for the comparative period.

Shareholders are advised that earnings per share and HEPS for the 6 months ended
31 December 2015 are expected to be between 45% and 50% lower than the earnings per share
and HEPS reported for the comparative period. Earnings per share and HEPS are expected to
decrease from 21 cents in the comparative period, to between 10.5 cents and 11.6 cents. The
decrease is as a result of a lower fair value adjustment largely due to an increase in the discount
rate as a result of the increase in the R186 bond rate.

Shareholders are further advised that:

-   Operating profit for the 6 months ended 31 December 2015 is likely to be between 10% and
    15% higher than that reported for the comparative period.

-   Net cash flow from operating activities is likely to be between R95 million and R100 million
    higher than that reported for the comparative period.

-   The biological asset valuation at 31 December 2015 exceeds that at 30 June 2015, and the
    adjustment to the asset is likely to be between 0% and 1% higher than that reported for the
    comparative period.

Shareholders are advised that the information included in this announcement has not been
reviewed or reported on by the Company’s auditors.

Sabie, Mpumalanga
24 February 2016

Sponsor
One Capital

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